nVent Electric (NYSE:NVT) Given New $80.00 Price Target at Royal Bank of Canada

nVent Electric (NYSE:NVT - Get Free Report) had its price target dropped by equities research analysts at Royal Bank of Canada from $82.00 to $80.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's price objective suggests a potential upside of 16.30% from the company's previous close.

A number of other equities research analysts also recently issued reports on NVT. KeyCorp boosted their price target on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Barclays cut their price target on nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $85.33.

nVent Electric Stock Up 0.7 %

nVent Electric stock traded up $0.51 on Monday, hitting $68.79. 3,563,321 shares of the stock traded hands, compared to its average volume of 1,567,538. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The firm has a market cap of $11.43 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.52 and a beta of 1.26. The business's fifty day simple moving average is $69.47 and its 200 day simple moving average is $73.12. nVent Electric has a 1 year low of $49.08 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $880.30 million for the quarter, compared to analysts' expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 EPS. As a group, sell-side analysts forecast that nVent Electric will post 3.26 earnings per share for the current year.

Insider Transactions at nVent Electric

In other news, Director Herbert K. Parker acquired 7,566 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now directly owns 34,524 shares of the company's stock, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Herbert K. Parker bought 7,566 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On nVent Electric

Several hedge funds have recently bought and sold shares of NVT. Private Advisor Group LLC grew its position in nVent Electric by 6.1% in the 1st quarter. Private Advisor Group LLC now owns 6,598 shares of the company's stock valued at $498,000 after acquiring an additional 382 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of nVent Electric by 3.2% during the first quarter. BNP Paribas Financial Markets now owns 66,641 shares of the company's stock valued at $5,025,000 after buying an additional 2,064 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of nVent Electric by 92.7% during the first quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company's stock valued at $1,423,000 after buying an additional 9,081 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of nVent Electric during the first quarter valued at $567,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of nVent Electric during the first quarter valued at $93,000. Institutional investors own 90.05% of the company's stock.

nVent Electric Company Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.